business
Japan raises interest rate to highest since 1995
Key takeaways
- Peter Hoskins Business reporter AFP via Getty Images Japan's central bank has increased its main interest rate to a new 31-year-high after a surge in global energy prices.
- On Tuesday, the Bank of Japan (BOJ) raised its so-called policy rate to 1% from 0.75% - its highest level since 1995.
- The decision comes as some other central banks have raised interest rates this year as the Iran war pushed up the cost of living.
Peter Hoskins Business reporter AFP via Getty Images Japan's central bank has increased its main interest rate to a new 31-year-high after a surge in global energy prices.
On Tuesday, the Bank of Japan (BOJ) raised its so-called policy rate to 1% from 0.75% - its highest level since 1995.
The decision comes as some other central banks have raised interest rates this year as the Iran war pushed up the cost of living.
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